Avery Dennison Co. (NYSE:AVY) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA increased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,209 shares of the industrial products company’s stock after purchasing an additional 127 shares during the quarter. Private Trust Co. NA’s holdings in Avery Dennison were worth $1,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVY. Geode Capital Management LLC increased its position in shares of Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Avery Dennison by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after purchasing an additional 134,560 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the last quarter. World Investment Advisors LLC increased its position in shares of Avery Dennison by 2,629.0% during the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after purchasing an additional 88,491 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in shares of Avery Dennison by 135.6% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock worth $27,476,000 after purchasing an additional 84,501 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Stock Performance

Shares of AVY opened at $188.07 on Friday. The stock has a 50-day simple moving average of $186.69 and a 200-day simple moving average of $201.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a market capitalization of $15.11 billion, a PE ratio of 21.57, a PEG ratio of 2.07 and a beta of 0.89. Avery Dennison Co. has a 1 year low of $178.72 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.